Siemens AG and Westinghouse Electric Corp have signed a declaration of intent to form three joint ventures to cover factory automation systems, industrial control equipment and industrial circuit breakers, Reuters reports from Munich. The biggest of the three will be a joint venture company in which Westinghouse will hold 51% to manufacture, sell and service factory automation systems in the US: the venture will cover more than 20 product lines. The second venture, also in the US, will involve production of industrial control equipment to US and international standards. The third venture will market circuit breakers outside the US.
Content from our partners
